Ceylon Petroleum Corporation
Ceylon Petroleum Corporation, commonly known as CEYPETCO (CPC), is a Sri Lankan oil and gas company. Established in 1962 and wholly owned by the Government of Sri Lanka, it is the largest oil company in Sri Lanka. It was formed in 1961 by nationalisation and expropriation of all private oil companies in Sri Lanka at the time of its formation. It is under the ownership of Ministry of Petroleum Resources Development headquartered in Colombo. It is the largest government owned company in the country, with an operational profit of Rs. 33.9 billion for the financial year 2020.
| Company type | Government-owned corporation |
|---|---|
| Industry | Oil and gas |
| Founded | 1962 |
| Headquarters | CEYPETCO House, 609 Dr Danister De Silva mawatha, , Sri Lanka |
Number of locations | 1,302 (2019) |
Area served | Sri Lanka |
Key people | Mohamed Uvais Mohamed (Chairman) |
| Products | Petroleum Natural gas Motor fuel Aviation fuel Petrochemical Lubricate |
Production output | 280,000 bbl/d (2021) |
| Revenue | Rs 531 billion (2020) |
| Rs 44 billion (2020) | |
Net income | Rs 1 billion (2020) |
| Total assets | Rs 349.69 billion (2020) |
| Total equity | Rs −529 billion (2020) |
| Owner | Government of Sri Lanka |
Number of employees | 2,616 (2019) |
| Parent | Ministry of Petroleum Resources Development |
| Subsidiaries | Litro Gas |
| Website | ceypetco |
CPC provides a substantial source of income for the Sri Lanka government, with 30% of the government's budget dependent on the company's dividend. In December 2018, CPC became Sri Lanka's most loss government corporation of the second consecutive years, with a record loss of Rs. 326 billion at the end of 2018.